The Massachusetts sales tax holiday is right around the corner on August 10th and 11th! Most retail items up to $2,500, purchased in Massachusetts for personal use on these two days, will be exempt from sales tax. Plan your purchases accordingly and help support small businesses. Do You Qualify? [...]
If you’re taking your first steps on your estate planning journey, congratulations! No one likes to contemplate his or her mortality, but having a plan in place can provide you and your loved ones peace of mind should you unexpectedly become incapacitated or die. Here are five basic pitfalls [...]
If you own a closely held corporation, you can borrow funds from your business at rates that are lower than those charged by a bank. But it’s important to avoid certain risks and charge an adequate interest rate. Basics Of This Strategy Interest rates have increased over the last [...]
You may be currently facing this dilemma: You’ve retired (or you’re approaching retirement) and, while you want to maintain your current standard of living, you also want to preserve as much of your wealth as possible for your family. This balance can be difficult to achieve, especially when your [...]
When it comes to digital assets, it’s important to know that, unlike many assets, they leave little to no “paper trail.” Thus, unless your estate plan specifically provides for them, it may be difficult for your family to access these assets — or even know that they exist. Let’s [...]
Health Savings Accounts (HSAs) allow eligible individuals to lower their out-of-pocket health care costs and federal tax bills. Since most of us would like to take advantage of every available tax break, now might be a good time to consider an HSA, if you’re eligible. Not only can an [...]
It’s not uncommon for people to address the fact that they may one day become physically incapacitated and unable to make critical medical decisions themselves. They do this by including health care powers of attorney or advance directives in their estate plans. But what if your family has a [...]
Let’s say you own one or more vacant lots. The property has appreciated greatly and you’re ready to sell. Or maybe you have a parcel of appreciated land that you want to subdivide into lots, develop them, and sell them off for a big profit. Either way, you’ll incur [...]
While much of your estate plan focuses on actions that take place after death, it’s equally important to have a plan for making critical financial or medical decisions if you’re unable to make them for yourself during your lifetime. This is why including a power of attorney in your [...]
A living will could provide peace of mind for both you and your family should the unthinkable occur. Yet many people neglect to draft this important estate planning document. Will vs. living willIt’s not uncommon for a living will to be confused with a last will and testament, but [...]
